{"id":4821,"date":"2023-03-30T17:45:10","date_gmt":"2023-03-30T15:45:10","guid":{"rendered":"https:\/\/amoeba-nature.com\/?p=4821"},"modified":"2023-03-30T17:56:40","modified_gmt":"2023-03-30T15:56:40","slug":"amoeba-2022-results","status":"publish","type":"post","link":"https:\/\/amoeba-nature.com\/en\/amoeba-2022-results\/","title":{"rendered":"Amo\u00e9ba : 2022 results\u00a0"},"content":{"rendered":"<div class=\"container\"><div class=\"row\"><div class=\"medium-large-full\">\n<h1 class=\"wp-block-heading has-text-align-center\">Amo\u00e9ba&nbsp;: 2022 annual results&nbsp;\u2013 An exceptional year which confirms Amo\u00e9ba\u2019s potential<\/h1>\n<\/div><\/div><\/div>\n\n<div class=\"container\"><div class=\"row\"><div class=\"medium-large-full\">\n<h3 class=\"wp-block-heading\"><strong>Obtention of two marketing approvals in the USA (biocide and plant protection) and a recommendation for approval of the biocontrol active substance in Europe<\/strong><strong><\/strong><\/h3>\n<\/div><\/div><\/div>\n\n<div class=\"container\"><div class=\"row\"><div class=\"medium-large-full\">\n<p><strong>Chassieu (France), March 30<sup>th<\/sup>, 2023 \u2013 17:45 \u2013 AMO\u00c9BA (FR0011051598 \u2013 ALMIB),&nbsp;<\/strong>an industrial biotech in pre-commercialization* specializing in the treatment of microbiological risk, developing a biocontrol agent for the treatment of plants in agriculture and a biological biocide for the treatment of industrial water,&nbsp;today announces its annual results for the year ending 31 December 2022.<\/p>\n<\/div><\/div><\/div>\n\n<div class=\"container\"><div class=\"row\"><div class=\"medium-large-full\">\n<p>The Board of Directors, which met on 30 March 2023, approved the corporate and consolidated financial statements of the Amoeba Group for the year ended 31 December 2022.<\/p>\n<\/div><\/div><\/div>\n\n<div class=\"container\"><div class=\"row\"><div class=\"medium-large-full\">\n<p>The Statutory Auditors have carried out their audit work and have not identified any significant anomalies that would call into question the conformity of the financial statements.&nbsp;The certification reports are being issued<\/p>\n<\/div><\/div><\/div>\n\n\n<figure class=\"wp-block-image size-full is-resized\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/amoeba-nature.com\/wp-content\/uploads\/2023\/03\/Capture-decran-2023-03-30-a-17.23.05.png\" alt=\"\" class=\"wp-image-4822\" width=\"567\" height=\"224\" srcset=\"https:\/\/amoeba-nature.com\/wp-content\/uploads\/2023\/03\/Capture-decran-2023-03-30-a-17.23.05.png 760w, https:\/\/amoeba-nature.com\/wp-content\/uploads\/2023\/03\/Capture-decran-2023-03-30-a-17.23.05-300x118.png 300w, https:\/\/amoeba-nature.com\/wp-content\/uploads\/2023\/03\/Capture-decran-2023-03-30-a-17.23.05-400x158.png 400w\" sizes=\"auto, (max-width: 567px) 100vw, 567px\" \/><\/figure>\n\n\n<div class=\"container\"><div class=\"row\"><div class=\"medium-large-full\">\n<h3 class=\"wp-block-heading\"><strong>A financial position strongly improved by debt repayment and equity rebuilding<\/strong><\/h3>\n<\/div><\/div><\/div>\n\n<div class=\"container\"><div class=\"row\"><div class=\"medium-large-full\">\n<p>At 31 December 2022, Amo\u00e9ba&#8217;s&nbsp;<strong>operating profit<\/strong>&nbsp;was -5,843 K\u20ac compared to -5,579 K\u20ac at 31 December 2021<\/p>\n<\/div><\/div><\/div>\n\n<div class=\"container\"><div class=\"row\"><div class=\"medium-large-full\">\n<ul class=\"wp-block-list\"><div class=\"container\"><div class=\"row\"><div class=\"medium-large-full\">\n<li>The company did not generate any&nbsp;<strong>revenue<\/strong>&nbsp;in the financial year 2022.<\/li>\n<\/div><\/div><\/div>\n\n<div class=\"container\"><div class=\"row\"><div class=\"medium-large-full\">\n<li><strong>Subsidies<\/strong>&nbsp;are down compared to 2021. They are mainly made up of the Research Tax Credit and underline the continued efforts made by the company in terms of research and development on its biocontrol application during 2022.<\/li>\n<\/div><\/div><\/div>\n\n<div class=\"container\"><div class=\"row\"><div class=\"medium-large-full\">\n<li><strong>Industrial deployment<\/strong>&nbsp;costs are up on the previous year and reflect the start of pre-industrialization of the biocontrol product developed by the Company.<\/li>\n<\/div><\/div><\/div>\n\n<div class=\"container\"><div class=\"row\"><div class=\"medium-large-full\">\n<li><strong>Research and Development<\/strong>&nbsp;expenses amount to \u20ac2,525K, up from \u20ac2,172K in 2021. This increase is mainly due to the external services provided to validate the field trials of the biocontrol product.<\/li>\n<\/div><\/div><\/div>\n\n<div class=\"container\"><div class=\"row\"><div class=\"medium-large-full\">\n<li><strong>General and administrative<\/strong>&nbsp;expenses amounted to \u20ac2,280k, down by \u20ac700k on the previous year.<\/li>\n<\/div><\/div><\/div>\n\n<div class=\"container\"><div class=\"row\"><div class=\"medium-large-full\">\n<li>The increase in&nbsp;<strong>marketing and sales<\/strong>&nbsp;costs is mainly due to the strengthening of the team for pre-commercialization.<\/li>\n<\/div><\/div><\/div>\n\n<div class=\"container\"><div class=\"row\"><div class=\"medium-large-full\">\n<li>The&nbsp;<strong>financial result<\/strong>&nbsp;mainly includes interest charges related to bank loans (\u20ac1,027k) and the OCAPI transaction (\u20ac1,153k).<\/li>\n<\/div><\/div><\/div><\/ul>\n<\/div><\/div><\/div>\n\n<div class=\"container\"><div class=\"row\"><div class=\"medium-large-full\">\n<p>The&nbsp;<strong>net result<\/strong>&nbsp;thus amounts to -\u20ac8,023k compared to -\u20ac7,817k at 31 December 2021.<\/p>\n<\/div><\/div><\/div>\n\n<div class=\"container\"><div class=\"row\"><div class=\"medium-large-full\">\n<p>At 31 December 2022, the company&#8217;s shareholders&#8217;&nbsp;<strong>equity&nbsp;<\/strong>amounted to \u20ac8.2m compared with \u20ac0.2m at 31 December 2021.&nbsp;<\/p>\n<\/div><\/div><\/div>\n\n<div class=\"container\"><div class=\"row\"><div class=\"medium-large-full\">\n<p>The company&#8217;s&nbsp;<strong>financial debt<\/strong>&nbsp;amounted to \u20ac2.4m (compared to \u20ac12.5m at 31 December 2021) and is mainly made up of the bond loan resulting from bonds issued and not yet converted at the end of the year (\u20ac2.1m) and debts linked to lease obligations (\u20ac0.3m).&nbsp;<\/p>\n<\/div><\/div><\/div>\n\n<div class=\"container\"><div class=\"row\"><div class=\"medium-large-full\">\n<p>The Company&#8217;s<strong>&nbsp;cash<\/strong>&nbsp;position at 31 December 2022 was \u20ac5,528k compared with \u20ac7,275k at 31 December 2021.&nbsp;<\/p>\n<\/div><\/div><\/div>\n\n<div class=\"container\"><div class=\"row\"><div class=\"medium-large-full\">\n<h3 class=\"wp-block-heading\"><strong>An exceptional year marked by two marketing approvals in the USA (biocide and plant protection), the recommendation for approval of the biocontrol active substance in Europe and further development of pre-commercial field tests<\/strong><\/h3>\n<\/div><\/div><\/div>\n\n<div class=\"container\"><div class=\"row\"><div class=\"medium-large-full\">\n<p>During the year 2022, Amo\u00e9ba focused on the following main areas:<\/p>\n<\/div><\/div><\/div>\n\n<div class=\"container\"><div class=\"row\"><div class=\"medium-large-full\">\n<h3 class=\"wp-block-heading\"><strong>1 \u2013 Biocontrol application<\/strong><strong><\/strong><\/h3>\n<\/div><\/div><\/div>\n\n<div class=\"container\"><div class=\"row\"><div class=\"medium-large-full\">\n<p><strong>Sustainability of the company through regulatory announcements:<\/strong><\/p>\n<\/div><\/div><\/div>\n\n<div class=\"container\"><div class=\"row\"><div class=\"medium-large-full\">\n<ul class=\"wp-block-list\"><div class=\"container\"><div class=\"row\"><div class=\"medium-large-full\">\n<li>On&nbsp;<strong>25 April 2022<\/strong>, the Company announced that AGES (Agentur f\u00fcr Gesundheit und Ern\u00e4hrungssicherheit ), the competent authority of the Reporting Member State (Austria) in charge of the application for the biocontrol active substance &#8220;<em>Willaertia magna C2c Maky<\/em>&nbsp;Lysate&#8221;,&nbsp;<strong>recommends its approval<\/strong>&nbsp;for plant protection use in the European territory.<\/li>\n<\/div><\/div><\/div>\n\n<div class=\"container\"><div class=\"row\"><div class=\"medium-large-full\">\n<li>In its draft assessment report, AGES concludes that the active substance is likely to meet the approval criteria. The Austrian authority thus confirms&nbsp;<strong>the efficacy of the active substance and its lack of adverse effects on human health and the environment<\/strong>&nbsp;when used according to good plant protection practice and under realistic conditions of use.<\/li>\n<\/div><\/div><\/div>\n\n<div class=\"container\"><div class=\"row\"><div class=\"medium-large-full\">\n<li>On&nbsp;<strong>29 September 2022<\/strong>, the company received a positive pre-decision from the US Environmental Protection Agency (US EPA) following the evaluation of the application for&nbsp;<em>Willaertia magna C2c Maky<\/em>&nbsp;as a biocontrol active substance (biopesticide) for use in agriculture. The EPA concluded that&nbsp;<em>Willaertia magna C2c Maky<\/em>lysate has&nbsp;<strong>a low toxicity profile for human health and the environment<\/strong>, and that &#8220;its mode of action contributes to its attractiveness as a viable alternative to conventional pesticides, making it a valuable addition to the pesticide panel. Therefore, EPA is proposing to grant unconditional registration of&nbsp;<em>Willaertia magna C2c Maky<\/em>&nbsp;lysate as a new active ingredient in food and non-food plant protection uses.<\/li>\n<\/div><\/div><\/div>\n\n<div class=\"container\"><div class=\"row\"><div class=\"medium-large-full\">\n<li>On&nbsp;<strong>12 October 2022<\/strong>, following its favourable pre-decision, the EPA&nbsp;<strong>approved the maximum residue limit exemption<\/strong>&nbsp;(<em>tolerance exemption<\/em>) of&nbsp;<em>Willaertia magna C2c Maky<\/em>&nbsp;amoeba lysate, corresponding to the regulatory threshold of pesticide residue concentration, above which the marketing of a food product is no longer authorized.<\/li>\n<\/div><\/div><\/div>\n\n<div class=\"container\"><div class=\"row\"><div class=\"medium-large-full\">\n<li><strong>On 3 November 2022<\/strong>, the Company informed that the US Environmental Protection Agency (US EPA) has&nbsp;<strong>approved the use of the amoeba lysate<\/strong>&nbsp;<em>Willaertia magna C2c Maky<\/em>&nbsp;as an active substance for use in plant protection.<\/li>\n<\/div><\/div><\/div><\/ul>\n<\/div><\/div><\/div>\n\n<div class=\"container\"><div class=\"row\"><div class=\"medium-large-full\">\n<p><strong><u>Recognition of its scientific expertise:<\/u><\/strong><\/p>\n<\/div><\/div><\/div>\n\n<div class=\"container\"><div class=\"row\"><div class=\"medium-large-full\">\n<ul class=\"wp-block-list\"><div class=\"container\"><div class=\"row\"><div class=\"medium-large-full\">\n<li>On&nbsp;<strong>18 October 2022<\/strong>, the Company announced the publication of a peer-reviewed scientific paper on its biocontrol application (<a href=\"https:\/\/www.mdpi.com\/2223-7747\/11\/20\/2756\/pdf\">https:\/\/www.mdpi.com\/2223-7747\/11\/20\/2756\/pdf<\/a>&nbsp;) in the special &#8220;Plant Bioprotection&#8221; issue of Plants, the journal of the MDPI Group.<\/li>\n<\/div><\/div><\/div><\/ul>\n<\/div><\/div><\/div>\n\n<div class=\"container\"><div class=\"row\"><div class=\"medium-large-full\">\n<p><em>This article presents, for the first time to the international scientific community, the efficacy of Amoeba&#8217;s biocontrol products based on the lysate of the amoeba Willaertia magna C2c Maky on potato late blight.&nbsp;<\/em><em><\/em><\/p>\n<\/div><\/div><\/div>\n\n<div class=\"container\"><div class=\"row\"><div class=\"medium-large-full\">\n<p><em>The scientific data demonstrating the double mode of action of the lysate to control potato late blight are presented:&nbsp;<\/em><em><\/em><\/p>\n<\/div><\/div><\/div>\n\n<div class=\"container\"><div class=\"row\"><div class=\"medium-large-full\">\n<p><em>&#8211; On the indirect effect via the stimulation of the plant&#8217;s natural defences&nbsp;<\/em><em><\/em><\/p>\n<\/div><\/div><\/div>\n\n<div class=\"container\"><div class=\"row\"><div class=\"medium-large-full\">\n<p><em>&#8211; On the direct fungicidal effect against the pathogen Phytophtora infestans responsible for potato late blight.<\/em><\/p>\n<\/div><\/div><\/div>\n\n<div class=\"container\"><div class=\"row\"><div class=\"medium-large-full\">\n<p><strong><u>An acceleration of field trials, synonymous with a record year:<\/u><\/strong><strong><u><\/u><\/strong><\/p>\n<\/div><\/div><\/div>\n\n<div class=\"container\"><div class=\"row\"><div class=\"medium-large-full\">\n<ul class=\"wp-block-list\"><div class=\"container\"><div class=\"row\"><div class=\"medium-large-full\">\n<li>On&nbsp;<strong>20 October 2022<\/strong>, the company announced the&nbsp;<strong>results of the field trial campaign<\/strong>.<\/li>\n<\/div><\/div><\/div><\/ul>\n<\/div><\/div><\/div>\n\n<div class=\"container\"><div class=\"row\"><div class=\"medium-large-full\">\n<p>With more than 120 field trials completed or underway in Europe, the United States, Brazil, Costa Rica and Asia, the winter 2021\/summer 2022 field trial campaign is the largest ever undertaken by Amo\u00e9ba.<\/p>\n<\/div><\/div><\/div>\n\n<div class=\"container\"><div class=\"row\"><div class=\"medium-large-full\">\n<p><em>The main objectives of these trials conducted by independent external service providers in small plots under GPE (Good Experimental Practice) guidelines were:<\/em><\/p>\n<\/div><\/div><\/div>\n\n<div class=\"container\"><div class=\"row\"><div class=\"medium-large-full\">\n<ul class=\"wp-block-list\"><div class=\"container\"><div class=\"row\"><div class=\"medium-large-full\">\n<li><em>&nbsp;To generate efficacy data for future marketing authorization applications (MA) in Europe, Brazil and California<\/em><\/li>\n<\/div><\/div><\/div>\n\n<div class=\"container\"><div class=\"row\"><div class=\"medium-large-full\">\n<li><em>To evaluate the company&#8217;s formulations on new targets, in particular diseases of tropical crops, apples and certain vegetable crops.&nbsp;<\/em><\/li>\n<\/div><\/div><\/div><\/ul>\n<\/div><\/div><\/div>\n\n<div class=\"container\"><div class=\"row\"><div class=\"medium-large-full\">\n<p><em>To conduct parallel positioning trials in combination or in programs with other fungicides (notably on vines, potatoes, wheat, vegetables and soybeans), foreshadowing experiments closer to practical application.<\/em><\/p>\n<\/div><\/div><\/div>\n\n<div class=\"container\"><div class=\"row\"><div class=\"medium-large-full\">\n<h3 class=\"wp-block-heading\"><strong>2 \u2013 Biocide application<\/strong><strong><\/strong><\/h3>\n<\/div><\/div><\/div>\n\n<div class=\"container\"><div class=\"row\"><div class=\"medium-large-full\">\n<p><strong><u>A strategic repositioning following regulatory announcements:<\/u><\/strong><\/p>\n<\/div><\/div><\/div>\n\n<div class=\"container\"><div class=\"row\"><div class=\"medium-large-full\">\n<ul class=\"wp-block-list\"><div class=\"container\"><div class=\"row\"><div class=\"medium-large-full\">\n<li>On&nbsp;<strong>3 May 2022<\/strong>, the Company announced that the MCCAA (Malta Competition and Consumer Affairs Authority), the competent authority of the reporting Member State (Malta) evaluating the application for approval of the biocidal active substance &#8220;<em>Willaertia magna C2c Maky<\/em>&#8220;,&nbsp;<strong>recommended its non-approval for biocidal use&nbsp;<\/strong>in cooling towers in Europe. On the basis of the application dossier for approval of the biocidal active substance &#8220;<em>Willaertia magna C2c Maky<\/em>&#8220;, the Maltese authority concluded in its draft report that the active substance is not likely to meet the approval criteria, considering that the innate efficacy has not been sufficiently demonstrated and that a Trojan horse effect cannot be excluded under realistic conditions of use.<\/li>\n<\/div><\/div><\/div><\/ul>\n<\/div><\/div><\/div>\n\n<div class=\"container\"><div class=\"row\"><div class=\"medium-large-full\">\n<ul class=\"wp-block-list\"><div class=\"container\"><div class=\"row\"><div class=\"medium-large-full\">\n<li>On&nbsp;<strong>10 August 2022<\/strong>, the Company announced that the US Environmental Protection Agency (US EPA) has issued a favourable pre-decision following the evaluation of the application for authorization of&nbsp;<em>Willaertia magna C2c Maky<\/em>&nbsp;as a biocidal active substance in cooling systems.<\/li>\n<\/div><\/div><\/div><\/ul>\n<\/div><\/div><\/div>\n\n<div class=\"container\"><div class=\"row\"><div class=\"medium-large-full\">\n<p>As a result of this favourable EPA pre-decision and the public consultation required for any new active substance, completed on 3 December 2022, the amoeba&nbsp;<em>Willaertia magna C2c Maky<\/em>&nbsp;and BIOMEBA products containing it are now&nbsp;<strong>authorized in the United States for biocidal use<\/strong>&nbsp;in closed cooling systems, for the control of microbial slime, for the control of microbial induced corrosion and for the control of general microbial life.&nbsp;<\/p>\n<\/div><\/div><\/div>\n\n<div class=\"container\"><div class=\"row\"><div class=\"medium-large-full\">\n<ul class=\"wp-block-list\"><div class=\"container\"><div class=\"row\"><div class=\"medium-large-full\">\n<li>On&nbsp;<strong>October 19 2022<\/strong>, the Company announced that it would not pursue its live amoeba biocide application in Canada. Amoeba has decided to permanently withdraw the application for registration in Canada and to focus its resources on low regulatory risk applications.<\/li>\n<\/div><\/div><\/div><\/ul>\n<\/div><\/div><\/div>\n\n<div class=\"container\"><div class=\"row\"><div class=\"medium-large-full\">\n<h3 class=\"wp-block-heading\"><strong>3 \u2013Securing the Company&#8217;s financing<\/strong><\/h3>\n<\/div><\/div><\/div>\n\n<div class=\"container\"><div class=\"row\"><div class=\"medium-large-full\">\n<ul class=\"wp-block-list\"><div class=\"container\"><div class=\"row\"><div class=\"medium-large-full\">\n<li>The Company announced the issuance of&nbsp;<strong>the fourth, fifth and sixth tranches of 60 convertible bonds<\/strong>&nbsp;and&nbsp;<strong>a seventh tranche of 40 convertible bonds<\/strong>&nbsp;as part of its incentive bond financing with Nice &amp; Green.<\/li>\n<\/div><\/div><\/div><\/ul>\n<\/div><\/div><\/div>\n\n<div class=\"container\"><div class=\"row\"><div class=\"medium-large-full\">\n<ul class=\"wp-block-list\"><div class=\"container\"><div class=\"row\"><div class=\"medium-large-full\">\n<li>In addition, Amo\u00e9ba finalized the restructuring of its debt by&nbsp;<strong>prepaying the entire EIB loan<\/strong>.<\/li>\n<\/div><\/div><\/div><\/ul>\n<\/div><\/div><\/div>\n\n<div class=\"container\"><div class=\"row\"><div class=\"medium-large-full\">\n<h3 class=\"wp-block-heading\"><strong>Developments and prospects&nbsp;<\/strong><\/h3>\n<\/div><\/div><\/div>\n\n<div class=\"container\"><div class=\"row\"><div class=\"medium-large-full\">\n<h3 class=\"wp-block-heading\"><strong>1 \u2013 Biocontrol application<\/strong><\/h3>\n<\/div><\/div><\/div>\n\n<div class=\"container\"><div class=\"row\"><div class=\"medium-large-full\">\n<p>The company is preparing to carry out a new field test campaign for its biocontrol product in 2023.&nbsp;<\/p>\n<\/div><\/div><\/div>\n\n<div class=\"container\"><div class=\"row\"><div class=\"medium-large-full\">\n<p>The program planned for 2023 will focus on the following themes:<\/p>\n<\/div><\/div><\/div>\n\n<div class=\"container\"><div class=\"row\"><div class=\"medium-large-full\">\n<p>&#8211;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Completing and generating data for future marketing authorization dossiers in Europe and California&nbsp;<\/p>\n<\/div><\/div><\/div>\n\n<div class=\"container\"><div class=\"row\"><div class=\"medium-large-full\">\n<p>&#8211;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Confirm in the second year the new strong points identified in 2022 (soybean rust, banana Sigatoka, apple scab, etc.)<\/p>\n<\/div><\/div><\/div>\n\n<div class=\"container\"><div class=\"row\"><div class=\"medium-large-full\">\n<p>&#8211;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In vines and vegetables in Europe, test the inclusion of the Amoeba product in practical treatment programs:&nbsp;&nbsp;either in small plot trials under Good Experimental Practice or under real agronomic conditions with the farmer&#8217;s equipment<\/p>\n<\/div><\/div><\/div>\n\n<div class=\"container\"><div class=\"row\"><div class=\"medium-large-full\">\n<p>In Europe, the collective peer review of Austria&#8217;s draft report is underway and should be finalized in Q3 2023.<\/p>\n<\/div><\/div><\/div>\n\n<div class=\"container\"><div class=\"row\"><div class=\"medium-large-full\">\n<p>This should be followed by two further phases:<\/p>\n<\/div><\/div><\/div>\n\n<div class=\"container\"><div class=\"row\"><div class=\"medium-large-full\">\n<figure class=\"wp-block-table\"><table><tbody><tr><td>Publication of the review report by the European Commission and implementing regulation carrying the European Commission&#8217;s decision<\/td><td>S1 2024<\/td><\/tr><tr><td>Decisions on authorizations of products containing the active substance &#8220;<em>Willaertia magna C2c Maky<\/em>&nbsp;lysate&#8221; by targeted Member States<\/td><td>2024<\/td><\/tr><\/tbody><\/table><\/figure>\n<\/div><\/div><\/div>\n\n<div class=\"container\"><div class=\"row\"><div class=\"medium-large-full\">\n<p>Applications for authorization of biocontrol products will be submitted in 2023 in the targeted member states: submission is indeed possible before the active substance is approved by the European Commission.<\/p>\n<\/div><\/div><\/div>\n\n<div class=\"container\"><div class=\"row\"><div class=\"medium-large-full\">\n<p>In the US, an application for approval of biocontrol products is expected to be submitted, following the approval of the active substance by the US EPA in 2022.<strong><u><\/u><\/strong><\/p>\n<\/div><\/div><\/div>\n\n<div class=\"container\"><div class=\"row\"><div class=\"medium-large-full\">\n<h3 class=\"wp-block-heading\"><strong>2 \u2013 USIBIAM industrialization project and search for financing<\/strong><\/h3>\n<\/div><\/div><\/div>\n\n<div class=\"container\"><div class=\"row\"><div class=\"medium-large-full\">\n<p>On&nbsp;<strong>January 27, 2023<\/strong>, the Company announced that it had terminated its convertible bond contract with Nice &amp; Green SA and waived the issuance of the optional 8th tranche of 80 OCAs as initially foreseen in the contract<a href=\"applewebdata:\/\/AB5ED2E8-64A0-46F5-8195-660911D26C2B#_edn1\"><sup>[i]<\/sup><\/a>.<\/p>\n<\/div><\/div><\/div>\n\n<div class=\"container\"><div class=\"row\"><div class=\"medium-large-full\">\n<p>Amoeba&#8217;s ambition is to build \u00ab&nbsp;USIBIAM&nbsp;\u00bb a&nbsp;production plant dedicated to biocontrol products, which could initially produce 40 tones of active substance per year, i.e. 200 tones of finished product, making it possible to treat 100,000 hectares. The company could increase its production and cover up to 200,000 hectares if the site is expanded. This production site should be operational by early 2025 in order to start marketing its biocontrol products as soon as marketing authorizations are obtained in Europe and the United States.&nbsp;<\/p>\n<\/div><\/div><\/div>\n\n<div class=\"container\"><div class=\"row\"><div class=\"medium-large-full\">\n<p>In order to finance this production site and to continue its operational and research activities over the next 3 years, the company estimates its total financial needs&nbsp;at \u20ac45 million&nbsp;\u2013 without extension-(\u20ac23 million in capital expenditure and \u20ac22 million in operational expenditure).<\/p>\n<\/div><\/div><\/div>\n\n<div class=\"container\"><div class=\"row\"><div class=\"medium-large-full\">\n<p>In order to adapt its financial strategy to its new industrial transformation challenges, Amo\u00e9ba has concluded a support contract with Redbridge Debt and Treasury Advisory to assist it in its search for financing<a href=\"applewebdata:\/\/AB5ED2E8-64A0-46F5-8195-660911D26C2B#_edn2\"><sup>[ii]<\/sup><\/a>.<\/p>\n<\/div><\/div><\/div>\n\n<div class=\"container\"><div class=\"row\"><div class=\"medium-large-full\">\n<p>Pending the search for and obtaining of such financing, on&nbsp;February 15, 2023, Nice &amp; Green SA<a href=\"applewebdata:\/\/AB5ED2E8-64A0-46F5-8195-660911D26C2B#_edn3\"><sup>[iii]<\/sup><\/a>&nbsp;agreed to continue supporting Amo\u00e9ba within the framework of a&nbsp;debt financing in the form of a simple bond loan&nbsp;with, as an exclusive repayment guarantee, a commitment to issue share warrants in the event of Amo\u00e9ba&#8217;s failure to repay the simple bonds (OS) at their maturity. This interim financing of \u20ac9 millions allows the company to immediately start its industrial project and to cover its expenses until December 2023. It is intended to be automatically repaid as soon as Redbridge Debt and Treasury Advisory has structured a financial contribution.<\/p>\n<\/div><\/div><\/div>\n\n<div class=\"container\"><div class=\"row\"><div class=\"medium-large-full\">\n<p>On&nbsp;<strong>16 February 2023<\/strong>, the Company announced that it had submitted the building permit for its new production site dedicated to biocontrol applications, based in Cavaillon in the Vaucluse.<\/p>\n<\/div><\/div><\/div>\n\n<div class=\"container\"><div class=\"row\"><div class=\"medium-large-full\">\n<p>On&nbsp;<strong>29 March 2023<\/strong>, Amo\u00e9ba announced its nomination as a winner of the France 2030 project following its application to the &#8220;Resilience and Agri-food Capacity&#8221; call for projects. After examining the application, BPI France recognized the quality and interest of Amo\u00e9ba&#8217;s investments, a key player in the agro-ecological transition, and announced support of \u20ac5,917,676 in the form of a \u20ac3,550,606 grant and \u20ac2,367,070 in recoverable advance.<\/p>\n<\/div><\/div><\/div>\n\n<div class=\"container\"><div class=\"row\"><div class=\"medium-large-full\">\n<h3 class=\"wp-block-heading\"><strong>3 \u2013 Biocide application<\/strong><\/h3>\n<\/div><\/div><\/div>\n\n<div class=\"container\"><div class=\"row\"><div class=\"medium-large-full\">\n<p>Following the US EPA&#8217;s preliminary favourable decision on the use of the amoeba&nbsp;<em>Willaertia Magna<\/em>&nbsp;<em>C2c Maky<\/em>&nbsp;in closed cooling systems (see press release of 10 August 2022), Amo\u00e9ba initiated a search in 2023 for a partner capable of taking over the production and\/or marketing of the biocide product in the United States. This search is still ongoing.<\/p>\n<\/div><\/div><\/div>\n\n<div class=\"container\"><div class=\"row\"><div class=\"medium-large-full\">\n<h3 class=\"wp-block-heading\"><strong>4 \u2013 New applications<\/strong><\/h3>\n<\/div><\/div><\/div>\n\n<div class=\"container\"><div class=\"row\"><div class=\"medium-large-full\">\n<p>In addition to existing applications (biocide and biocontrol), Amo\u00e9ba receives numerous requests to integrate its solution into new fields of operations. A strict scientific evaluation of these opportunities is carried out permanently by our laboratory and external expert laboratories.<\/p>\n<\/div><\/div><\/div>\n\n<div class=\"container\"><div class=\"row\"><div class=\"medium-large-full\">\n<p><strong>At the date of closing the accounts, the Company has sufficient net working capital to meet its obligations and cash requirements over twelve months, believing that it can meet its commitments until December 2023. The financial statements for the year ended 31 December 2022 were approved by the Board of Directors on 30 March 2023 on a going concern basis in light of the business and cash flow forecasts.<\/strong><strong><\/strong><\/p>\n<\/div><\/div><\/div>\n\n<div class=\"container\"><div class=\"row\"><div class=\"medium-large-full\">\n<p><strong>Next event:<\/strong> General Meeting of Shareholders: 25 May 2023<\/p>\n<\/div><\/div><\/div>\n\n<div class=\"container\"><div class=\"row\"><div class=\"medium-large-full\">\n<p><a href=\"https:\/\/amoeba-nature.com\/wp-content\/uploads\/2023\/03\/300323-CP-compte-VDEF-EN.pdf\">Read press release in PDF<\/a><\/p>\n<\/div><\/div><\/div>\n\n<div class=\"container\"><div class=\"row\"><div class=\"medium-large-full\">\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n<\/div><\/div><\/div>\n\n<div class=\"container\"><div class=\"row\"><div class=\"medium-large-full\">\n<p><a href=\"applewebdata:\/\/AB5ED2E8-64A0-46F5-8195-660911D26C2B#_ednref1\"><sup>[i]<\/sup><\/a>&nbsp;See press release of 21 december 2020<\/p>\n<\/div><\/div><\/div>\n\n<div class=\"container\"><div class=\"row\"><div class=\"medium-large-full\">\n<p><a href=\"applewebdata:\/\/AB5ED2E8-64A0-46F5-8195-660911D26C2B#_ednref2\"><sup>[ii]<\/sup><\/a>&nbsp;See press release of 27 january 2023<\/p>\n<\/div><\/div><\/div>\n\n<div class=\"container\"><div class=\"row\"><div class=\"medium-large-full\">\n<p><a href=\"applewebdata:\/\/AB5ED2E8-64A0-46F5-8195-660911D26C2B#_ednref3\"><sup>[iii]<\/sup><\/a>&nbsp;As a reminder, Nice &amp; Green SA is an unregulated service provider and investor specialising in the structuring and financing of small and medium-sized listed companies, investing in particular in the medical science and technology sectors.<\/p>\n<\/div><\/div><\/div>","protected":false},"excerpt":{"rendered":"<p>Amo\u00e9ba&nbsp;: 2022 annual results&nbsp;\u2013 An exceptional year which confirms Amo\u00e9ba\u2019s potential Obtention of two marketing approvals in the [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":4816,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[12],"tags":[],"class_list":["post-4821","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorized"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.3 - 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